European Union

On 30 June 2011, the Monetary Agreement between the Principality of Andorra and the European Union was signed in Brussels. Pursuant to this agreement, Andorra undertook to implement certain European Union regulatory provisions in its legal system.

Additionally, in accordance with Article 6.1 of Law 14/2017, of 22 June, on preventing and combating money laundering and the financing of terrorism, UIFAND publishes, via a mandatory Technical Communiqués, the list of countries at risk of money laundering or terrorist financing or with strategic deficiencies, which is regularly updated by the European Commission.

Article 6.1 Law 14/2017 “High-risk countries”

“1. The UIFAND identifiesthe countries with high-risk of money laundering and terrorist financin by means of a technical communiqué, taking into account the countries and jurisdictions designated by the Financial Action Task Force as non-cooperative or with strategic deficiències and those considered by the European Commission to have strategic deficiencies in their national systems of prevention and fight against money laundering and terrorist financing.”

For more information

Technical Communiqué CT-04/2023 concerning the updated list of countries classified as high-risk by the European Union